Trucker Path and Lendio have partnered to provide small business financing in the Trucker Path Marketplace, Trucker Path announced Tuesday.
"Lendio brings much-needed capital to trucking businesses, who have traditionally been underserved by banks," says Chris Oliver, CMO at Trucker Path. "Their loan products, which are tailored for transportation businesses, can be used to buy, upgrade or repair equipment; invest in technology to gain competitive advantage; and expand operations or add staff."
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Lendio's offerings include asset- or revenue-based financing, debt financing, lines of credit and equipment financing. The application will be available in Trucker Path's mobile app, Trucker Path says, and it does not impact the applicant's credit. It can be completed in as little as 15 minutes with funding available as quickly as 24 hours, Trucker Path says.
"With Lendio's embedded lending, Trucker Path users will now have faster access to financing from a variety of lenders that best meet their business' needs," says Brock Black, CEO and co-founder of Lendio. "We know access to capital can be a big roadblock for many small businesses, and our marketplace has helped hundreds of thousands of businesses with this — including many in trucking and transportation — over the past decade. This partnership aligns perfectly with our mission to create a world where small businesses survive and thrive, and we're so excited to work with Trucker Path."
